关于某公司财务研究管理及财务知识分析标准.ppt

财务管理;Handout Outline;1.Discounted Cash Flow Valuation Outline;I. Introduction to Valuation: The Time Value of Money;A. Future Value and Compounding Example 1;Future Values: General Formula;Future value of $1;Future Values – Example 2;Effects of Compounding;Effects of Compounding;Future value, simple interest and compound interest;Future Values – Example 3 The case of Peter Minuet and the Indians;B. Present Value and Discounting;Present Values;PV – One-Period Example;Present Values – Example 2;PV – Important Relationship I;PV – Important Relationship II;Present Value of $1; C. More on Present and Future Values;Discount Rate;Finding the Number of Periods;The rule of 72;Example: Spreadsheet Strategies;II. Future and Present Values of Multiple Cash Flows;Two Ways to Calculate FV for Multiple CFs;Multiple Cash Flows – FV Example ;Example Time Line;Multiple Cash Flows – PV;Example Time Line;Example: Spreadsheet Strategies;III. Application;A. Annuities;Ordinary Annuities– PV;Annuity PV – Example Buying a House;Buying a House - Continued;Ordinary Annuities– FV;Annuities——FV Example;Spreadsheet Strategies  ——Annuity PV/FV Example ;Finding the Payment;Finding the Number of Payments ;Finding the Number of Payments ;Spreadsheet Strategies ——Annuity Payment Example ;Perpetuities(永续年金）;Perpetuity – Example;Perpetuity – Example;B. Loan Types and Loan Amortization;Pure Discount Loans ——Example;Loan Types (II);Interest-Only Loan - Example;Loan Types (III);Amortized Loan with Fixed Payment ——Example;Amortization Table for Example;Example: Spreadsheet Strategies;C. How to Value Bonds and Stocks;1. Definition of a Bond;Definition of a Bond;Definition of a Bond;Yield to Maturity (YTM);2. How to Value Bonds ;The Bond Pricing Equation;Pure Discount Bonds;Pure Discount Bonds;Pure Discount Bond: Example;Level Coupon Bonds(息票债券);Level Coupon Bond: Example;Level Coupon Bond: Example;Bond Pricing with a Spreadsheet;Bond Pricing with a Spreadsheet;Bond Pricing with a Spreadsheet;Consols(永